Recession Trickling All the Way Down

An Inside Recession Perspective into the mind of a Financial Expert

2010-04-26T07:10:00.000-07:00

For eight years Jay Mooney, the Associate Director of Operations at the financial aid office at the University of Georgia, has witnessed many economic changes, but the recent recession has brought his office an entirely different experience.

No one likes talking about money lately, because it is almost like walking on eggshells. Mooney explained how at his job he talks to people about money all day everyday. He talks to parents concerned with tuition, students with the same concerns, employees worried about their job and administration enforcing his job. These everyday conversations have not only seemed to change, but they have also begun to increase.

At the University of Georgia Mooney noted there has been some changes, “There has been a huge increase in those applying for the FAFSA (Free Application for Federal Student Aid). We have been receiving over 20% more than normal and Pell grant applications have increased 40%.”

This increase in need of aid has been keeping Mooney and his employees busy. Mooney also said he noticed some interesting trends in family information submitted on the applications, because by law Mooney’s office has access to this information since it is used for the FASFA process. “There has been a 100% increase in request for information from families who have one or more parents who have lost their job.” He continued to explain that many have submitted an application and before an was even granted they have requested to change their information due to parental job loss.

Mooney’s seniority has backed him with the knowledge to not stress or worry about these economic changes. Although there has been recent furlough days and budget cuts everywhere around him, Mooney says, “To be quite canny with you. I have got some miles on me. I have been through a good bit, so I haven’t fretted terribly. I haven’t lost any sleep about it.”

That laid back attitude is also what prompted Mooney and his managerial co-workers to meet individually with each employee in their office and explain how the furlough days would affect them, while also providing some helpful options.

Other than furlough days there has been a more prominent topic buzzing around the financial aid office: HOPE scholarship. Mooney knows the importance of the HOPE scholarship and how many people rely on that. With this rough economic situation it is not surprising that many are worried what may happen to HOPE. Mooney does not see an end necessarily, but he does predict there will be some changes.

Mooney stated his predictions for HOPE, “The demand for HOPE is more than what is available. The lottery is just not enough. Personally my opinion, only pragmatically speaking is that the Georgia Student Finance Commission is going to have to go into the trust fund account.”

It is clear that Jay Mooney has earned some credentials as he served the student population of UGA with their financial needs for the past eight years. These credentials have backed him with a laid back yet very knowledgeably mature attitude when it come to dealing with this downfall of our economy.

Job Hunt after Graduation

2010-04-22T21:45:00.001-07:00

Recession Good for Credit

2010-04-22T21:41:00.000-07:00

There has been some recent discussion on applyandgo.com about whether or not the recession could possibily be helping some people's credit. Read more to find out if it is helping you!

Finance Experts Help Cope with Recession

2010-04-22T21:39:00.001-07:00

Finance experts all blog together on bestarticles.com and there was a recent post about "How to Survive the Recession without Depression." Check out the blog to learn how!

Cost of Food in College Life

2010-04-21T11:43:00.000-07:00

The cost of food is obviously a daily essential and it is also one of the main cost that have been affecting college students as our economy struggles. Luckily there are numerous people out there researching ways to maintain a healthy diet on a low college budget. I found one particular study that even gave a shopping list to eat for only $35 dollars a week. Here is the list:

The shopping list

1 gallon of milk: $1.89
2 boxes store-brand cereal: $3.98
2 loaves of bread: $1.98
1 package hot dog buns: 89 cents
1 package hamburger buns: 89 cents
2 pounds spaghetti: $1.98
2 jars spaghetti sauce: $1.98
1 pound bologna: 99 cents
1 pound chopped ham: $1.99
2 pounds noodles: $1.98
1 pound butter: $1.89
1 bottle mustard: 69 cents
1 bottle ketchup: 89 cents
3 cans condensed soup : $1.77
1 pound ground beef: $1.99
1 pound hot dogs: 99 cents
6 pack of microwave popcorn: $1.69
2 1-pound bags frozen vegetables: $1.98
5 pound bag of potatoes: $1.98

Total before tax and coupons: $32.42

Now this shopping list will work best at discounted grocery store, not places like Publix. It may not sound too appealing to all, but you do what you gotta do when times get tough. So eat up friends!

Maintain that Sexy Style Regardless of Recession

2010-04-21T11:32:00.000-07:00

Celebrity inspiried style does not have to be a thing of the past. Babble blogged about ways to keep that style while beating the recession. Follow the blog to learn how!

Young Workers Gain Responsibility from Recession

2010-04-21T11:30:00.000-07:00

The daily finance blog discussed just yesterday how the recession has been creating a new sense of responisibilty for young workers. Read more to learn how!

Do we Really Believe the Recession is Ending?

2010-04-19T07:11:00.000-07:00

It has been popping all over the news recently about whether not this recession has ended and the claims stating that we have reached the end are starting to become more prominent.

Headlines everywhere are saying things like: The recession is ending! Unemployment is stabilizing! From Wall Street to Washington, the message comes: America, the worst is over. Let the spending begin But it seems that many Americans still don't buy it, so what should we really think?

According to an Associated Press poll conducted in early April, many Americans' impressions of the economy, as well as their own financial status: haven't even budged in a long time. This April, only 25 percent of Americans believed the economy was getting better, the exact same percentage as in September, according to the AP poll. An remarkable 76 percent rated the economy these days as poor, compared with just 21 percent who said the economy was "good" overall.

Recently on Sunday, Treasury Secretary Timothy Geithner said that the economy is growing faster than the White House expected, and that people are spending more. Federal Reserve Chairman Ben Bernanke told Congress just last week that growth in demand by consumers and businesses will promote a moderate economic recovery in coming months.

But looking around nationally it does not seem that an "economic recovery" is anywhere to be found. States all over are struggling. For example, Ohio's economy has not recovered but it has actually plummeted in the past year, according to the AP's monthly analysis of conditions in more than 3,100 counties and 50 states. Actually this year inn February, Ohio was the "eighth-most distressed state in the U.S".

Las Vegas, and it's home county of Clark, watched their unemployment rate drastically climb from 10.1 percent to 13.9 percent in the past year. This similar kind of soaring in unemployment rates was seen in California's Central Valley. This California area and surrounding county Merced are places where the unemployment rate remains high, and where 1 out of 16 homes is in some phase of foreclosure.

With all theses jobs and homes being lost it is no wonder Americans are not giving into the claims that recession has ended. We all hope the future will show us something different, we just got to hang in there and do what we can to change our own habits.

More Help on How to Avoid the Recession

2010-04-19T07:07:00.000-07:00

On phonienews.com, a news and informational blog, they give steps to avoid the recession. They also give ways to start a successful financial plan. Take some of their advice by following the blog!

Are Stocks too Risky?

2010-04-19T07:05:00.000-07:00

Although stocks are not as popular among our age group, for those young investors out there FavStock, a stock focused blog, recently claims they have found some recession proof stocks. Read more to find out!

Blogger View on Recession

2010-04-19T07:03:00.001-07:00

DoctorEvil a prominent blogger talks about his view of the recession on the WallStreetOasis which is a blog regarded Wall Street. Here what the doctor has to say by clicking on the blog link.

Debate about the End of the Recession

2010-04-19T07:00:00.000-07:00

There was has been numerous claims that the recession has "ended," but who really decides that? The National Journal Online blogs about the debate. Read more by clicking the link!

Indian Institude and the Recession

2010-04-18T16:46:00.000-07:00

College Students Fight Budget Cuts

2010-04-18T16:42:00.001-07:00

RecessionReality blogs about the protests all over the country from college students who say NO to the budget cuts at their school. Read about the resistance on the blog!

Ivy League Schools still Dominate

2010-04-18T16:39:00.000-07:00

JackSkin blogs about how Ivy League schools still dominate for graduate school choices during the recession. Read more!

"Mommies" take their stand agaisnt the recession

2010-04-18T16:37:00.000-07:00

Baby Talk is a blog run by mothers all over the country and they have discussed their methods to avoid the recession. Learn their creative ideas by reading the blog!

Survive the Depression

2010-04-18T16:34:00.001-07:00

Survive the depression.com is a blg similiar to this one that gives more information on the recession. There was a recent post about the recession in the Middle East. Intrested? Follow the blog to learn more.

YUG-Your Ultimate Guide

2010-04-18T16:31:00.000-07:00

A self help blog YUG blogs about five more recession proof careers. Click here to find out what they are!

MTV Explains How to Survive

2010-04-18T07:13:00.000-07:00

Our favorite cable network, MTV, blogs about how college grads should survive the recession. Click the link to learn what they have to say.

Watch this Video!

2010-04-18T07:12:00.001-07:00

What the Recession Means to College Students

2010-04-18T07:08:00.000-07:00

The Chaparral is a blog representing student voice talks about what the recession truly means for college students. They focus on job shifting and taking out loans. Read blog to learn more!

College Football Programs Show No Signs of Recession

2010-04-18T07:04:00.000-07:00

The Record Online is a blog for the University of Michigan and they recently have discussed how it is clear that college football programs remained untouched by the recession. Follow the blog to learn more.

Jobs that are Beating the Recession

2010-04-18T06:56:00.000-07:00

Recession Proof Jobs for Grads

The link here has some ideas for recession proof jobs. There are even videos that have job descriptions for some of the positions. Also, it has average salaries and more information about the job descriptions. Hope this gives you guys some new ideas!

Bloomberg News Report

2010-04-14T08:14:00.000-07:00

My Personal Story with the Recession

2010-04-14T08:06:00.000-07:00

It is hard to really put into perspective how much the recession has truly affected me, it has kind of been one of those things that I do not really realize how close it is to home until it is all the way there. I figured since this blog is dedicated to college students regarding the recession and I am a current college student living in the recession, than it is nothing more than ideal to explain my personal experience.

Unlike many of my fellow Atlanta suburban natives, I came into college completely aware that I was soon to be in thousands of dollars in debt because of student loans. My mom is a teacher and her salary is just not sufficient enough to support me through college. I have been working since the week I turned sixteen, which is something I have come to truly appreciate. Obviously I didn't have this positive respect for the whole working thing until I am came to college. Anyways have my part time job is what pays all my everyday expenses and bills; my loans pay rent.

With the recession, this set up I have going on has come to be a true struggle. The first place it home was when I realized how affected Gap, Inc was by the economy. Luckily my recent promotion locked me in on a certain amount of hours per week, but that has sure not been the case for many other employees. We have had to drastically cut hours, which has been causing us to have minimum coverage on the floor. If you are not familiar with all this retail lingo, basically it just means we don't have enough money to pay any employees to be there so we have been running the store with as little people working as possible (aka super intense).

Another place the recession has busted into my life has been with food. I have a week or two every three months or so where I literally have less than a dollar to last me for six or seven days. Not going to lie, I have grown pretty well at this haha. It is rough sometimes, but I have come to learn that in the end it always works out. This leads to the whole point of this blog post. Yes, the recession has hit me and it has me hard, but after thinking deeply into everything I have been through I really appreciate what I have learned. I used to basically have a panic attack if I was getting really low on money, but now I have learned to relax. It really does all work out in the end and you can not let money control your life. Money only has as much power as you give it!

Credit Report Increase among college students

2010-04-12T17:38:00.000-07:00

On the financial blog noflakpress.com there was a recent blog that stated how credit company Equifax explained that the recession has lead to an increased number in the amount of college students who are pulling their credit report. Follow the blog to hear more!

Ways to Avoid Recession

2010-04-12T17:37:00.000-07:00

Laser Recession Buster is a blog that helps give ideas on how to avoid the recession. A recent blog was about the three best laptops that are still recession affordable for college students. Follow the blog to get more tips!

Mish: Obama and College Student

2010-04-12T17:34:00.000-07:00

Mish recently blogged on TalkFinance about Obama's continuous focus on college students regarding issues like internships. Follow blog to learn more!

Recession Relaities

2010-04-12T17:32:00.000-07:00

Ray Schroeder uses his Recession Realities in Higher Education blog to show many examples of the effects of recession . A recent blog noted how the recession has caused numerous tuition increases. Read blog to learn more realities!

Shady Businesses take Advantage of College Students

2010-04-08T05:24:00.001-07:00

Dante Graves writes on the ASU bloge St@tepress.com explaining how business owners who are not too credible are taking advantage of college students on sites like Craiglist. He explains what they do and how to avoid it!

A Way to Look at the Recession as an Opportunity

2010-04-07T04:52:00.000-07:00

A student run newspaper for Austin Peay State University has a blog for the students. One post explains how the recession is causing an increase in college enrollment, which can in turn end up helping students as opposed to hurting. Check out the blog to read more. The allstate.

U.S News

2010-04-07T04:49:00.000-07:00

U.S News Education Blog explains a little more how the recession is causing changes to student's college plan. Follow the blog to see what they think!

White House Blog

2010-04-07T04:44:00.000-07:00

The White House Blog lets us, the college students, and any others interested voice their opinion about what "A 21st Century Education means to you." If there is anything you feel needs to be said here is a good way to get involved. Try following the blog and get your voice heard!

Earning of college grads

2010-04-03T08:59:00.001-07:00

This is scary. At least there is hope that is on the verge of changing. Don't give up on looking for a job right after college. Even if you still have to intern for another year or two, it builds good resumes and loyalty to the employer. A happy employer= a large paycheck :)

Sucide and Depression on the Rise for College Students

2010-03-31T11:40:00.000-07:00

There has been some recent studies that have brought forth some pretty frightening news. College students are feeling the pressure now, more than ever.

We all know how tough it is to balance the school stress, the difficulty of adjusting to life on our and now with the recession, financial stress on top of that. The studies show that suicide is the third most common death cause among the 15 to 24 year old age group, and kills 3,900 people every year.

Depression is resulting from high anxiety and stress. Many college students deal with stress by going out and drinking with their friends, but the studies also said that alcohol only perpetuates the depression. This is leaving many to feel that they are stuck in a black hole, because what they think is helping is actually only making everything worse.

There are self-help groups and organizations being formed all across the country on university campuses with the hopes of being a guidance to any struggling college student.

The recession is causing many who have never even thought about money before, have a whole new stress to add to the ones already associated with college.

There is hope though, because it should be comforting to some that at least it is clear that you are not alone in your worries. There is help out there, easier said than done, but DON'T STRESS!

Young Money blog helps to inform college students about ID theft

2010-03-31T11:31:00.000-07:00

Young Money recently blogged about how college students are now a prime target for ID theft. 3.3 Million students have already been victim to the theft. The recession is making people hungrier and hungrier, don't let people try to steal your hard earned paper! Read Young Money's blog to find out more.

Be Cautious as to Already has Access to Your Information

2010-03-30T15:56:00.000-07:00

As a college student, we all know that websites like Facebook have become part of our daily routine, but do we even know who has access to all of our information? Luckily, there could soon be a good answer to this question. Currently Facebook, Flickr, Gmail are some of the websites that hope to be what they call a "cloud based" service. The sites protected in this "cloud base" would be safe havens for documents and other personal internet activity. These sites are working with advocacy groups, as well as technology companies such as AT&T and Microsoft to get Congress to pass new regulations regarding corporations access to personal Internet information. The group is calling itself Digital Due Process and they are hoping to make changes to the current regulations. With the recession causing mass corporate merges it is our responsibility to protect what we put on the Internet. Be aware friends!

New York Times Story with more detail

What is this blog even about?

2010-03-27T06:35:00.000-07:00

Heyyyy!! My name is Alison Grimes and I am writing this blog with the hopes of spreading some knowledge about the recession. I am sure many of you are thinking "I am sick of hearing all this bad news about the economy," well so am I. I want to show people of all ages how the recession is affecting my generation. I think the focus is always placed on corporations, banks, government plans and unemployment, but no one ever talks about how this also hurting teens and college students. That is my goal here on this blog, to show that the unwanted decline in the economy has truly trickled it's way all the way down to the 18-25 age group. I hope it provides some new knowledge for you all and I hope to get some feedback. THANK YOU AND ENJOY!

Pell Grants are doomed

2010-03-22T20:20:00.000-07:00

Mish blogs on Global economic trends and he says if Obama gets his way, more money will be thrown into what he is thinks are "fraud" filled grants.

Mish's blog